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Migsun Group acquires HDFC’s stake in Greater Noida’s SEZ project

Friday, 12 Nov 2021
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Migsun Group has acquired the stakes of HDFC from its SEZ project in Greater Noida in close to Rs 50 crore. 
In 2020, the Group had acquired Ansal's stake in Ansal IT City Park (SEZ) Tech Zone. The company will now have 100 percent stake after acquiring HDFC's 37 percent stake and the rest of Ansal API.   
The Group now plans to develop the 37.5 acre mixed-use project with built-to-suit commercial, IT and industrial units. Strategically located, the project has roads on three sides, which allows the developer to explore the possibility of having a data centre and also a warehouse. 
The new project is in line with its endeavour to provide world-class real estate in Noida region. The company is currently executing 16 projects, in residential as well as commercial, in various parts of Delhi NCR. 
It is in talks with leading players for warehousing and leasing. Close to three million sq ft of the space will be developed in phases. 
The project will have 50 percent IT/ITeS offices, 15 percent industrial and 15 percent commercial space. It is executing 16 projects, both residential and commercial, in various parts of Delhi and its suburbs. 
The company has completed over 40 projects totaling approximately two crore sq ft in various regions of Delhi NCR in the three decades of operation. 
The company intends to buy and redevelop five to seven stalled projects in Greater Noida, with a budget of Rs 4,500 crore.
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